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Elements of Finance Mariano Chapter5

This document provides an overview of key financial statements including the income statement, balance sheet, statement of changes in owners' equity, statement of retained earnings, and cash flow statement. It defines financial statements and examines the income statement for different types of businesses including service firms, trading corporations, and manufacturing firms. The document also explores the differences between product costs and period costs as well as market value versus book value on the balance sheet.

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2K views38 pages

Elements of Finance Mariano Chapter5

This document provides an overview of key financial statements including the income statement, balance sheet, statement of changes in owners' equity, statement of retained earnings, and cash flow statement. It defines financial statements and examines the income statement for different types of businesses including service firms, trading corporations, and manufacturing firms. The document also explores the differences between product costs and period costs as well as market value versus book value on the balance sheet.

Uploaded by

Loi Bermundo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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LEARNING OBJECTIVES

FINANCIAL STATEMENTS:
DEFINITION

INCOME STATEMENT

Income Statement:
SERVICE FIRM

Income Statement:
TRADING CORPORATION

Income Statement:
MANUFACTURING FIRM

Product Costs vs Period Costs

BALANCE SHEET

Market Value vs Book Value

STATEMENT OF CHANGES
IN OWNERS EQUITY

STATEMENT OF
RETAINED EARNINGS

CASH FLOW STATEMENT

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